The InvestinGoal team has created this detailed Admirals demo account guide for you.
In this article, we will explain everything you should know about Admirals demo account, including the features of the account, how to open it and how to handle it.
Main features of the Admirals Demo Account:
- 30 days trial
- It’s totally free
- Easy to open
- All live account markets and assets available
- Wide range of account types to try
- You can install EAs
Table of Content
|Admirals demo account||Characteristics|
|Trial duration||30 days|
|Demo platforms||MT4, MT5, WebTrader|
|Virtual money amount||€10.000|
Visit Admirals (76% of retail CFD accounts lose money).
Admirals Demo Account Opening Tutorial: Step by step procedure
This is a simple step-by-step guide on how to set up a demo account on Admirals. Instead, our Admirals review covers all the features of the broker.
Step 1: Visit the Admirals’ website
The first step for opening a demo Admirals account is to visit the broker’s website and find the broker’s demo registration form needed to open an Admirals demo account (76% of retail CFD accounts lose money). Admirals directs EU residents to the CySEC regulated page. If you are eligible to open an account under other regulatory frameworks, you will be able to switch the regulation by selecting the Admirals’ entity below the registration form.
Step 2: Fill the registration form
Complete the registration form by providing your email address or sign up with your Facebook or Google account. On this first form, you can also provide a telephone number for a faster registration. The next step will be providing a secure password, and the last step will be choosing your country of residence.
Step 3: Verify your profile
Once you submit your registration form, Admirals will send you a confirmation link to your email address. Click on the link provided to activate your demo account.
Step 4: Customize the demo account
Sign up and go to your profile settings. Here you will be able to download the MT4 or MT5 platforms. Once downloaded and installed, Admirals will guide you on how to connect with the Admirals’ Demo server to begin trading.
The broker will also send the login details needed to access the Metatrader platform and here you will be able to set you account type, virtual balance, and currency.
Step 5: Login into the demo account
Use the account details sent to you to login into the demo account platform.
Admirals’ demo account features
Here are the main Admirals’ demo account features:
- Simple opening process. You need a valid phone number and a valid email address
- The duration of the demo is up to 30 days, but it won’t expire if you open a live account
- You can open one demo per each account type
- 3900+ tradable markets
- 10.000 € amount of virtual money available
- Available platforms to try are: MT5, MT4 and WebTrader
- Tools to speed up learning, such as educational videos on how to trade
Differences between live and demo Admirals accounts
Admirals offers traders a wide range of account types with the Demo Account. These are the Trade MT5, Invest MT5, Zero MT5, Trade MT4, and the Zero MT4. Some of these allow you to virtually try the Admirals’ STP order execution, which is considered to be one of the most efficient on the market.
There is a possibility of Slippage. Though unlikely, this is the difference between the order price you request at the opening of an order and the effective order’s execution price. Slippage won’t happen in a demo account since it’s filled with virtual money and happens in live accounts because money change really quickly.
The Admirals demo account expires after 30 days but becomes unlimited once a live account is opened. Regardless of a live account, there is a $10 inactivity fee after 24 months of no trading.
How to switch to a live account
When you switch to a live account, your demo account will become unlimited. To open a live account, simply follow these steps.
Upload a proof of your identity (Passport, ID or Driver License) and a proof your residence (Bill utility or bank statement) to get the verification process started.
Depending on country, you may need you to fill a questionnaire about your trading experience. With verification complete, a deposit may be required. Admirals requires a minimum deposit of $100 ($1 for the Invest Account).
How to best use your Admirals demo account
Here are a few tips on how to get the most out of your Admirals demo account.
- Use it just as you would a live account. Set up the account type, balance, currency and platform you would intend to use.
- Do not open large positions if you are not planning to trade with large amounts of money.
- Treat money as if it were real
- Practice daily
- Study and integrate knowledge with the video tutorials offered by the broker
Pros and cons of the Admirals demo account
- Wide range of account types available
- Two trading platforms available
- It won’t expire if you open a live account
- It lasts for 30 days only
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